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EURJPY - Upward trend will continue, Long trade by market price recommended

December 15, 2020 6:44:55 AM by Alexander Zorevyk
Forecast Details
PairEURJPY
Direction Buy
StatusClosed (125.85)
6:43
6:43
Dec. 15, 2020

+75 p
127.20
Target 2
+55 p
127.00
Target 1
126.45
Entry
-60 p
125.85
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on EURJPY. As a result, we recommend considering only Long trades at this time.
  2. In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
  3. MVP line is below the price and acts as a support level.
  4. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  5. The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 127
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